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Finance Access of SMEs: What Role for the ECB?

Author

Listed:
  • Ansgar Belke
  • Florian Verheyen

Abstract

In this paper we describe the genesis of a doomsday scenario and discuss potential causes and motivations for a breakup of the euro area. For this purpose, we differentiate between the departure of weak and strong countries, and examine the impact of the reintroduction of a national currency on domestic debt, the domestic banking sector, EU membership and the freedom of trade. We also briefly analyze the social and political costs of the accompanying social disorder.

Suggested Citation

  • Ansgar Belke & Florian Verheyen, 2013. "Finance Access of SMEs: What Role for the ECB?," ROME Working Papers 201311, ROME Network.
  • Handle: RePEc:rmn:wpaper:201311
    as

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    File URL: http://www.rome-net.org/RePEc/rmn/wpaper/rome-wp-2013-11.pdf
    File Function: First version, 2013
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    References listed on IDEAS

    as
    1. Columba, Francesco & Gambacorta, Leonardo & Mistrulli, Paolo Emilio, 2010. "Mutual guarantee institutions and small business finance," Journal of Financial Stability, Elsevier, vol. 6(1), pages 45-54, April.
    2. Berger, Allen N. & Udell, Gregory F., 2006. "A more complete conceptual framework for SME finance," Journal of Banking & Finance, Elsevier, vol. 30(11), pages 2945-2966, November.
    3. Bartoli, Francesca & Ferri, Giovanni & Murro, Pierluigi & Rotondi, Zeno, 2013. "Bank–firm relations and the role of Mutual Guarantee Institutions at the peak of the crisis," Journal of Financial Stability, Elsevier, vol. 9(1), pages 90-104.
    4. Edward I. Altman & Gabriele Sabato, 2007. "Modelling Credit Risk for SMEs: Evidence from the U.S. Market," Abacus, Accounting Foundation, University of Sydney, vol. 43(3), pages 332-357.
    5. Colombo, Massimo G. & Delmastro, Marco, 2002. "How effective are technology incubators?: Evidence from Italy," Research Policy, Elsevier, vol. 31(7), pages 1103-1122, September.
    6. Schneider, Cedric & Veugelers, Reinhilde, 2008. "On Young Innovative Companies: Why they matter and how (not) to policy support them," Working Papers 04-2008, Copenhagen Business School, Department of Economics.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Tondl, Gabriele, 2016. "Interest rates, corporate lending and growth in the Euro Area," Department of Economics Working Paper Series 5085, WU Vienna University of Economics and Business.
    2. Bradut-Vasile BOLOS & Hesham MAGD, 2013. "Supporting Sme'S Through Islamic Finance Inspired Operations," STUDIA UNIVERSITATIS PETRU MAIOR SERIES OECONOMICA, Petru Maior University, Faculty of Economics Law and Administrative Sciences, vol. 1, pages 1-12, December.
    3. repec:pmu:oecono:v:1:y:2013:p:1-12 is not listed on IDEAS

    More about this item

    Keywords

    banking crisis; debt crisis; exchange rates; euro; optimum currency area; secession yields;

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics

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